Hamlin Capital Management LLC Reduces Position in Lamar Advertising Company $LAMR

Key Points

• Hamlin Capital Management reduced its Lamar Advertising position by 2.9% in the second quarter, selling 40,454 shares. It still held 1.34 million shares valued at approximately $209 million, representing 4.7% of its portfolio.
• Lamar reported quarterly earnings of $1.00 per share, exceeding the $0.82 consensus estimate, while revenue of $528 million also topped expectations. Analysts project $8.41 in full-year EPS.
• The company maintains a quarterly dividend of $1.60 per share, equivalent to a 4.0% yield, although its payout ratio is high at 118.08%. Analysts’ average rating is “Hold,” with an average price target of $154.67.

Hamlin Capital Management LLC reduced its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,340,213 shares of the real estate investment trust's stock after selling 40,454 shares during the quarter. Lamar Advertising comprises about 4.7% of Hamlin Capital Management LLC's portfolio, making the stock its 3rd biggest position. Hamlin Capital Management LLC owned 1.32% of Lamar Advertising worth $209,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LAMR. First Citizens Bank & Trust Co. increased its stake in shares of Lamar Advertising by 0.9% during the first quarter. First Citizens Bank & Trust Co. now owns 8,821 shares of the real estate investment trust's stock valued at $1,117,000 after buying an additional 75 shares during the period. Praxis Investment Management Inc. lifted its stake in Lamar Advertising by 2.7% in the first quarter. Praxis Investment Management Inc. now owns 2,846 shares of the real estate investment trust's stock worth $360,000 after acquiring an additional 76 shares during the period. Gamco Investors INC. ET AL lifted its stake in Lamar Advertising by 1.0% in the first quarter. Gamco Investors INC. ET AL now owns 7,523 shares of the real estate investment trust's stock worth $953,000 after acquiring an additional 78 shares during the period. Argent Advisors Inc. grew its holdings in Lamar Advertising by 0.6% during the 1st quarter. Argent Advisors Inc. now owns 14,426 shares of the real estate investment trust's stock worth $1,827,000 after acquiring an additional 80 shares in the last quarter. Finally, Glenmede Investment Management LP grew its holdings in Lamar Advertising by 3.2% during the 3rd quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust's stock worth $317,000 after acquiring an additional 81 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Down 0.5%

Lamar Advertising stock opened at $158.18 on Thursday. The business's 50-day simple moving average is $155.93 and its two-hundred day simple moving average is $142.50. The company has a market cap of $16.05 billion, a PE ratio of 29.18 and a beta of 1.19. Lamar Advertising Company has a fifty-two week low of $113.66 and a fifty-two week high of $166.33. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Equities analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising's dividend payout ratio is presently 118.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. TD Cowen raised their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, May 14th. Wells Fargo & Company increased their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a report on Thursday, May 7th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $153.00 price objective on shares of Lamar Advertising in a research note on Wednesday, July 22nd. Finally, Citigroup lowered Lamar Advertising from a "buy" rating to a "neutral" rating and upped their target price for the stock from $145.00 to $160.00 in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $154.67.

About Lamar Advertising

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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